Intrinsic value of Boston Private Financial Holdings - BPFH

Previous Close

$15.00

  Intrinsic Value

$0.00

stock screener

  Rating & Target

str. sell

-100%

Previous close

$15.00

 
Intrinsic value

$0.00

 
Up/down potential

-100%

 
Rating

str. sell

Our model is not good at valuating stocks of financial companies, such as BPFH.

We calculate the intrinsic value of BPFH stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  5.50
  5.45
  5.40
  5.36
  5.33
  5.30
  5.27
  5.24
  5.22
  5.19
  5.17
  5.16
  5.14
  5.13
  5.11
  5.10
  5.09
  5.08
  5.08
  5.07
  5.06
  5.05
  5.05
  5.04
  5.04
  5.04
  5.03
  5.03
  5.03
  5.02
Revenue, $m
  407
  429
  453
  477
  502
  529
  557
  586
  617
  649
  682
  717
  754
  793
  833
  876
  920
  967
  1,016
  1,068
  1,122
  1,179
  1,238
  1,301
  1,366
  1,435
  1,507
  1,583
  1,662
  1,746
Variable operating expenses, $m
  295
  311
  328
  346
  364
  383
  404
  425
  447
  470
  495
  520
  547
  575
  604
  635
  667
  701
  737
  774
  813
  854
  898
  943
  990
  1,040
  1,093
  1,148
  1,205
  1,266
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  295
  311
  328
  346
  364
  383
  404
  425
  447
  470
  495
  520
  547
  575
  604
  635
  667
  701
  737
  774
  813
  854
  898
  943
  990
  1,040
  1,093
  1,148
  1,205
  1,266
Operating income, $m
  112
  118
  124
  131
  138
  145
  153
  161
  170
  178
  188
  197
  207
  218
  229
  241
  253
  266
  279
  294
  309
  324
  340
  358
  376
  395
  414
  435
  457
  480
EBITDA, $m
  970
  1,023
  1,078
  1,136
  1,197
  1,260
  1,326
  1,396
  1,469
  1,545
  1,625
  1,709
  1,797
  1,889
  1,985
  2,087
  2,193
  2,304
  2,421
  2,544
  2,673
  2,808
  2,950
  3,098
  3,255
  3,418
  3,590
  3,771
  3,961
  4,159
Interest expense (income), $m
  27
  418
  402
  420
  439
  459
  480
  502
  525
  549
  574
  601
  628
  657
  688
  719
  753
  788
  825
  863
  904
  946
  991
  1,037
  1,086
  1,138
  1,192
  1,248
  1,308
  1,370
  1,436
Earnings before tax, $m
  -306
  -284
  -296
  -308
  -321
  -335
  -349
  -364
  -380
  -396
  -413
  -431
  -450
  -470
  -490
  -512
  -535
  -559
  -584
  -610
  -638
  -666
  -697
  -729
  -762
  -797
  -834
  -873
  -913
  -956
Tax expense, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  -306
  -284
  -296
  -308
  -321
  -335
  -349
  -364
  -380
  -396
  -413
  -431
  -450
  -470
  -490
  -512
  -535
  -559
  -584
  -610
  -638
  -666
  -697
  -729
  -762
  -797
  -834
  -873
  -913
  -956

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  6,902
  7,278
  7,672
  8,083
  8,514
  8,965
  9,437
  9,931
  10,449
  10,992
  11,561
  12,157
  12,782
  13,437
  14,124
  14,845
  15,601
  16,394
  17,226
  18,099
  19,015
  19,976
  20,985
  22,044
  23,155
  24,321
  25,545
  26,829
  28,178
  29,593
Adjusted assets (=assets-cash), $m
  6,902
  7,278
  7,672
  8,083
  8,514
  8,965
  9,437
  9,931
  10,449
  10,992
  11,561
  12,157
  12,782
  13,437
  14,124
  14,845
  15,601
  16,394
  17,226
  18,099
  19,015
  19,976
  20,985
  22,044
  23,155
  24,321
  25,545
  26,829
  28,178
  29,593
Revenue / Adjusted assets
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
  0.059
Average production assets, $m
  8,582
  9,049
  9,538
  10,050
  10,586
  11,146
  11,733
  12,348
  12,992
  13,666
  14,374
  15,115
  15,892
  16,707
  17,561
  18,457
  19,397
  20,383
  21,418
  22,503
  23,642
  24,837
  26,091
  27,407
  28,788
  30,238
  31,760
  33,357
  35,034
  36,793
Working capital, $m
  -7,818
  -8,244
  -8,690
  -9,156
  -9,644
  -10,154
  -10,689
  -11,249
  -11,836
  -12,450
  -13,095
  -13,770
  -14,478
  -15,220
  -15,999
  -16,815
  -17,671
  -18,570
  -19,512
  -20,501
  -21,538
  -22,627
  -23,769
  -24,968
  -26,227
  -27,548
  -28,934
  -30,389
  -31,916
  -33,520
Total debt, $m
  7,442
  7,780
  8,134
  8,505
  8,892
  9,298
  9,723
  10,168
  10,634
  11,122
  11,634
  12,171
  12,733
  13,323
  13,942
  14,590
  15,271
  15,985
  16,733
  17,519
  18,343
  19,208
  20,116
  21,069
  22,069
  23,118
  24,220
  25,376
  26,590
  27,864
Total liabilities, $m
  6,212
  6,551
  6,905
  7,275
  7,663
  8,068
  8,493
  8,938
  9,404
  9,893
  10,405
  10,941
  11,504
  12,094
  12,712
  13,361
  14,041
  14,755
  15,504
  16,289
  17,114
  17,979
  18,887
  19,839
  20,839
  21,889
  22,990
  24,146
  25,360
  26,634
Total equity, $m
  690
  728
  767
  808
  851
  896
  944
  993
  1,045
  1,099
  1,156
  1,216
  1,278
  1,344
  1,412
  1,485
  1,560
  1,639
  1,723
  1,810
  1,902
  1,998
  2,099
  2,204
  2,315
  2,432
  2,554
  2,683
  2,818
  2,959
Total liabilities and equity, $m
  6,902
  7,279
  7,672
  8,083
  8,514
  8,964
  9,437
  9,931
  10,449
  10,992
  11,561
  12,157
  12,782
  13,438
  14,124
  14,846
  15,601
  16,394
  17,227
  18,099
  19,016
  19,977
  20,986
  22,043
  23,154
  24,321
  25,544
  26,829
  28,178
  29,593
Debt-to-equity ratio
  10.780
  10.690
  10.600
  10.520
  10.440
  10.370
  10.300
  10.240
  10.180
  10.120
  10.060
  10.010
  9.960
  9.920
  9.870
  9.830
  9.790
  9.750
  9.710
  9.680
  9.650
  9.620
  9.590
  9.560
  9.530
  9.510
  9.480
  9.460
  9.440
  9.420
Adjusted equity ratio
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100
  0.100

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  -306
  -284
  -296
  -308
  -321
  -335
  -349
  -364
  -380
  -396
  -413
  -431
  -450
  -470
  -490
  -512
  -535
  -559
  -584
  -610
  -638
  -666
  -697
  -729
  -762
  -797
  -834
  -873
  -913
  -956
Depreciation, amort., depletion, $m
  858
  905
  954
  1,005
  1,059
  1,115
  1,173
  1,235
  1,299
  1,367
  1,437
  1,511
  1,589
  1,671
  1,756
  1,846
  1,940
  2,038
  2,142
  2,250
  2,364
  2,484
  2,609
  2,741
  2,879
  3,024
  3,176
  3,336
  3,503
  3,679
Funds from operations, $m
  552
  621
  658
  697
  737
  780
  824
  871
  920
  971
  1,024
  1,080
  1,139
  1,201
  1,266
  1,334
  1,405
  1,480
  1,558
  1,640
  1,727
  1,817
  1,912
  2,012
  2,117
  2,227
  2,342
  2,463
  2,590
  2,724
Change in working capital, $m
  -408
  -426
  -446
  -466
  -488
  -511
  -535
  -560
  -587
  -615
  -644
  -675
  -708
  -742
  -778
  -816
  -856
  -898
  -942
  -989
  -1,038
  -1,089
  -1,142
  -1,199
  -1,258
  -1,321
  -1,386
  -1,455
  -1,527
  -1,603
Cash from operations, $m
  959
  1,047
  1,104
  1,163
  1,225
  1,291
  1,359
  1,431
  1,506
  1,585
  1,669
  1,756
  1,847
  1,943
  2,044
  2,150
  2,261
  2,378
  2,501
  2,629
  2,764
  2,906
  3,055
  3,211
  3,375
  3,547
  3,728
  3,918
  4,118
  4,327
Maintenance CAPEX, $m
  -814
  -858
  -905
  -954
  -1,005
  -1,059
  -1,115
  -1,173
  -1,235
  -1,299
  -1,367
  -1,437
  -1,511
  -1,589
  -1,671
  -1,756
  -1,846
  -1,940
  -2,038
  -2,142
  -2,250
  -2,364
  -2,484
  -2,609
  -2,741
  -2,879
  -3,024
  -3,176
  -3,336
  -3,503
New CAPEX, $m
  -440
  -468
  -489
  -512
  -535
  -561
  -587
  -615
  -644
  -675
  -707
  -741
  -777
  -815
  -854
  -896
  -940
  -986
  -1,034
  -1,085
  -1,139
  -1,195
  -1,254
  -1,316
  -1,381
  -1,450
  -1,522
  -1,597
  -1,677
  -1,760
Cash from investing activities, $m
  -1,254
  -1,326
  -1,394
  -1,466
  -1,540
  -1,620
  -1,702
  -1,788
  -1,879
  -1,974
  -2,074
  -2,178
  -2,288
  -2,404
  -2,525
  -2,652
  -2,786
  -2,926
  -3,072
  -3,227
  -3,389
  -3,559
  -3,738
  -3,925
  -4,122
  -4,329
  -4,546
  -4,773
  -5,013
  -5,263
Free cash flow, $m
  -295
  -279
  -290
  -302
  -315
  -329
  -343
  -357
  -372
  -388
  -405
  -423
  -441
  -461
  -481
  -502
  -524
  -548
  -572
  -598
  -625
  -653
  -683
  -714
  -747
  -781
  -817
  -855
  -895
  -936
Issuance/(repayment) of debt, $m
  -307
  339
  354
  370
  388
  406
  425
  445
  466
  488
  512
  537
  563
  590
  619
  649
  680
  714
  749
  786
  824
  865
  908
  953
  1,000
  1,049
  1,102
  1,156
  1,214
  1,274
Issuance/(repurchase) of shares, $m
  1,005
  321
  335
  349
  364
  380
  396
  413
  431
  450
  470
  491
  512
  535
  559
  584
  610
  638
  667
  697
  729
  763
  798
  834
  873
  914
  956
  1,001
  1,048
  1,097
Cash from financing (excl. dividends), $m  
  698
  660
  689
  719
  752
  786
  821
  858
  897
  938
  982
  1,028
  1,075
  1,125
  1,178
  1,233
  1,290
  1,352
  1,416
  1,483
  1,553
  1,628
  1,706
  1,787
  1,873
  1,963
  2,058
  2,157
  2,262
  2,371
Total cash flow (excl. dividends), $m
  403
  381
  399
  417
  437
  457
  479
  501
  525
  550
  577
  604
  634
  664
  697
  731
  766
  804
  843
  885
  929
  974
  1,022
  1,073
  1,126
  1,182
  1,241
  1,302
  1,367
  1,435
Retained Cash Flow (-), $m
  -1,005
  -321
  -335
  -349
  -364
  -380
  -396
  -413
  -431
  -450
  -470
  -491
  -512
  -535
  -559
  -584
  -610
  -638
  -667
  -697
  -729
  -763
  -798
  -834
  -873
  -914
  -956
  -1,001
  -1,048
  -1,097
Prev. year cash balance distribution, $m
  9
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  8
  9
  9
  10
  10
  11
  11
  12
  12
  13
  14
  14
  15
  16
  17
  18
  18
  19
  20
  21
  22
  24
  25
  26
  27
  29
  30
  32
  33
  35
Cash available for distribution, $m
  -594
  60
  64
  68
  72
  77
  82
  88
  94
  100
  107
  114
  121
  129
  138
  147
  156
  166
  177
  188
  199
  212
  225
  239
  253
  268
  284
  301
  319
  338
Discount rate, %
  14.90
  15.65
  16.43
  17.25
  18.11
  19.02
  19.97
  20.97
  22.01
  23.11
  24.27
  25.48
  26.76
  28.10
  29.50
  30.98
  32.52
  34.15
  35.86
  37.65
  39.53
  41.51
  43.59
  45.77
  48.05
  50.46
  52.98
  55.63
  58.41
  61.33
PV of cash for distribution, $m
  -517
  45
  40
  36
  32
  27
  23
  19
  16
  12
  10
  7
  6
  4
  3
  2
  1
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Current shareholders' claim on cash, %
  50.0
  34.1
  23.4
  16.1
  11.1
  7.7
  5.3
  3.7
  2.6
  1.8
  1.3
  0.9
  0.6
  0.4
  0.3
  0.2
  0.2
  0.1
  0.1
  0.1
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0
  0.0

Boston Private Financial Holdings, Inc. is the bank holding company of Boston Private Bank & Trust Company. The Company offers private banking and wealth management services to high net worth individuals, families, businesses and select institutions. Its segments include Private Banking, Wealth Management and Trust, Investment Management and Wealth Advisory. The Private Banking segment provides private banking services to high net worth individuals, privately owned businesses and partnerships, and nonprofit organizations. The Wealth Management and Trust segment provides wealth management solutions for high net worth individuals and families. The Investment Management segment serve the needs of pension funds, endowments, trusts, foundations and select institutions, mutual funds and high net worth individuals and their families. The Wealth Advisory segment provides planning-based financial strategies to high net worth individuals and their families, and non-profit institutions.

FINANCIAL RATIOS  of  Boston Private Financial Holdings (BPFH)

Valuation Ratios
P/E Ratio 17.4
Price to Sales 0
Price to Book 1.6
Price to Tangible Book
Price to Cash Flow 11.8
Price to Free Cash Flow 12.9
Growth Rates
Sales Growth Rate -100%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 80%
Cap. Spend. - 3 Yr. Gr. Rate 2.4%
Financial Strength
Quick Ratio NaN
Current Ratio NaN
LT Debt to Equity 32.2%
Total Debt to Equity 32.2%
Interest Coverage 5
Management Effectiveness
Return On Assets 1.2%
Ret/ On Assets - 3 Yr. Avg. 1.2%
Return On Total Capital 7.5%
Ret/ On T. Cap. - 3 Yr. Avg. 7.7%
Return On Equity 9.6%
Return On Equity - 3 Yr. Avg. 9.6%
Asset Turnover 0
Profitability Ratios
Gross Margin 0%
Gross Margin - 3 Yr. Avg. 0%
EBITDA Margin 0%
EBITDA Margin - 3 Yr. Avg. 0%
Operating Margin 0%
Oper. Margin - 3 Yr. Avg. 0%
Pre-Tax Margin 0%
Pre-Tax Margin - 3 Yr. Avg. 0%
Net Profit Margin 0%
Net Profit Margin - 3 Yr. Avg. 0%
Effective Tax Rate 30.7%
Eff/ Tax Rate - 3 Yr. Avg. 32%
Payout Ratio 51.4%

BPFH stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the BPFH stock intrinsic value calculation we used $386 million for the last fiscal year's total revenue generated by Boston Private Financial Holdings. The default revenue input number comes from 2017 income statement of Boston Private Financial Holdings. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our BPFH stock valuation model: a) initial revenue growth rate of 5.5% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 14.9%, whose default value for BPFH is calculated based on our internal credit rating of Boston Private Financial Holdings, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Boston Private Financial Holdings.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of BPFH stock the variable cost ratio is equal to 72.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for BPFH stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Boston Private Financial Holdings.

Corporate tax rate of 27% is the nominal tax rate for Boston Private Financial Holdings. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the BPFH stock is equal to 2.1%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for BPFH are equal to 2107.3%.

Life of production assets of 10 years is the average useful life of capital assets used in Boston Private Financial Holdings operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for BPFH is equal to -1919.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $0 million for Boston Private Financial Holdings - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 82 million for Boston Private Financial Holdings is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Boston Private Financial Holdings at the current share price and the inputted number of shares is $1.2 billion.

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COMPANY NEWS

▶ Boston Private Financial: 2Q Earnings Snapshot   [Jul-18-18 04:25PM  Associated Press]
▶ With new hires, Cambridge Trust pushes further into private banking   [Jul-17-18 02:58PM  American City Business Journals]
▶ Wealth manager starts new firm after rocky Boston Private merger   [06:08AM  American City Business Journals]
▶ Local finance firms, colleges join forces to tackle cybersecurity issue   [May-11-18 02:47PM  American City Business Journals]
▶ Boston wealth manager strikes out on its own, defying trend   [Apr-26-18 06:48AM  American City Business Journals]
▶ Boston Private Financial: 1Q Earnings Snapshot   [Apr-18-18 04:55PM  Associated Press]
▶ Boston Private Announces Partnership with Team IMPACT   [Mar-26-18 12:00PM  Business Wire]
▶ Weekly CEO Buys Highlight   [Feb-05-18 10:50AM  GuruFocus.com]
▶ Boston Private Financial posts 4Q loss   [Jan-17-18 05:03PM  Associated Press]
▶ Boston Private to shed $9B wealth management unit   [05:30AM  American City Business Journals]
▶ Boston Private Opens New Downtown Los Angeles Office   [Nov-06-17 03:43PM  Business Wire]
▶ Boston Private Financial posts 3Q profit   [Oct-18-17 04:19PM  Associated Press]
▶ Boston Private Appoints Chris Roy Managing Director   [Oct-02-17 09:34AM  Business Wire]
▶ Boston Private Sponsors Ellsworth Antiques Show   [Aug-16-17 08:00AM  Business Wire]
▶ Boston Private Financial posts 2Q profit   [Jul-26-17 11:20PM  Associated Press]
▶ Here are the 9 best-paid CEOs at publicly traded Mass. banks   [May-03-17 05:20AM  American City Business Journals]
▶ Boston Private Financial posts 1Q profit   [Apr-26-17 05:34PM  Associated Press]
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